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Fidelity Investments makes significant investment in Bank of Cyprus
12:40 - 11 January 2024
Boston-based Fidelity Investments, one of the world’s biggest long only funds, recently made a significant investment in Bank of Cyprus.
Fidelity, which focuses on long-term investments, announced that it has acquired 310,237 Bank of Cyprus shares worth $1.09 million.
Fidelity Investments is based in Boston and is considered one of the biggest global asset managers, boasting a portfolio in the range of $4.5 trillion.
Bank of Cyprus has become an attractive option for quality investors following its efforts to rationalise its balance sheet in recent years, its high profitability (ROTE >17% for 2023 and >13% for 2025), and the fact that it is trading on the London Stock Exchange, one of the world’s biggest stock markets.
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